Smart Ticketing Market Leading Key Players: CPI Card Group, Inc., Cubic Corporation, Gemalto NV (Thales Group), Giesecke & Devrient, GmbH, Infineon Technologies, Rambus, Inc., HID Global Corporation

What factors are slated to drive smart ticketing market growth through 2026?

The smart ticketing market is likely to gain substantial momentum over the coming years owing to the surging adoption of digital technologies across various government-sponsored public transportation services throughout the world. Additionally, an increase in number of infrastructure development projects across the globe is further expected to drive the market growth.

As per a Global Market Insights, Inc., report, smart ticketing market is slated to surpass a $20 billion valuation by 2026.

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How are industry players contributing toward fostering the smart ticketing market share?

With the rising penetration of digital technologies, many key industry players are increasingly focusing on new innovations to distinguish and personalize their solution offerings for potential customers. Citing an instance, in June 2020, Masabi, a leading developer of public transport payments and mobile ticketing software, and Littlepay, a payment service provider, reportedly announced a new partnership for delivering contactless ticketing solution EMV in a box.

The new solution has been created as an end-to-end and cost-effective contactless EMV system which can be deployed across different modes of public transport. By using this new system, passengers would be able to tap their mobile phones or contactless bank cards to travel, removing the possible risks of physically interacting with ticketing setup or handling cash.

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How would ticket validators drive the smart ticketing industry revenues over the coming years?

With respect to offering, the ticket validators segment is slated to witness robust growth over the coming years. The growth of this segment is driven by the rising penetration of automation across the transport sector. Increasing adoption of smart ticket validators for ensuring access control will boost the smart ticketing industry growth. These smart ticket validator machines incorporate a smart-card reader and manages the fare collection processes. The functionality of the validator unit usually depends upon the location of the unit. While on-board validators or those that are placed at turnstiles do not provide any top-up services and normally have a very basic monochrome display, the ones used in stations offer both top-up functions as well as the ability to display a wider array of passenger data.

Which aspects would emerge as primary growth facilitators for the smart ticketing market in MEA?

On the geographical front, Middle East & Africa smart ticketing market is projected to garner substantial proceeds over the coming years. The anticipated regional growth can be attributed to the increasing number of infrastructure development projects. Additionally, improving economic conditions across the MEA are further promoting the implementation of advanced technologies, opening new doors for the smart ticketing industry further.

In recent years, numerous key players have been focusing on increasing their presence across the regional markets by offering integrated payment solutions through strategic collaborations and partnerships with other smart ticket developers and operators. Citing an instance, in October 2020, Future Communications Company, a well-known technology company providing advanced ICT products & services including enterprise business, telecom engineering, infrastructure, and digital transformation, reportedly signed a new agreement with and multimodal mobile ticketing platform, PayiQ, to digitize contactless ticketing across the Gulf region.

The key aim of this collaboration is to look for joint opportunities to digitize ticketing operations of numerous transport companies mainly in the Kingdom of Saudi Arabia, State of Qatar, and in the Kingdom of Bahrain.

Softjourn, Infineon Technologies, Xerox Corporation, Giesecke & Devrient, GmbH, Cubic Corporation, Idemia, NXP Semiconductors N.V., CPI Card Group, Inc., Ticketer, Gemalto NV (Thales Group), HID Global Corporation (ASSA Abloy AB), and Rambus, Inc. among many others are some of the prominent players operating in the smart ticketing market.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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